Dividend Aristocrat Automatic Data Processing (ADP) will raise its quarterly dividend from $0.435 to $0.48 per share. It's the 39th consecutive annual dividend increase for the Dividend Aristocrat.
At the current stock price of $77 the new dividend gives ADP a dividend yield of 2.5%. In 2012 ADP increased its dividend by 10.1% from $0.39 to $0.435 quarterly.
Automatic Data Processing, Inc. (ADP) is a provider of human capital management (HCM) solutions. The company's services include a wide range of human resource, payroll, tax, and benefits administration solutions. ADP's reportable business segments are Employer Services and Professional Employer Organization (“PEO”). ADP was founded in 1949 on an innovative idea: to help business owners focus on core business activities by freeing them up from certain non-core tasks such as payroll.